Forsters advises Fiera Real Estate and Wrenbridge on acquisition of Heathrow logistics scheme

Forsters has advised Fiera Real Estate (“Fiera”) and Wrenbridge on the acquisition of a site 1.5 miles from Heathrow airport for £60m.

Acquired from residential developer, Stonegate Homes, the plan is to develop a 110,570 sq ft urban logistics scheme, comprising of three units ranging from 22,131 sq ft to 58,127 sq ft.

The site will also be targeting an EPC rating of A+ and a BREEAM Excellent rating.

This deal is the fourth to be completed by the Fiera Real Estate Logistics Development Fund UK, which has roughly £200m left with which to invest in similar schemes across the UK.

Fiera fund manager Chris Button commented the development would deliver “much needed, sustainable, high-quality urban warehousing.”

Commercial Real Estate Partner and Co-Head of the Industrial and Logistics group, Victoria Towers, says: “We are delighted to continue our close relationship with Fiera and Wrenbridge by advising on the acquisition of this site, which will bolster the South-East’s sustainable warehousing credentials.”

Victoria Towers, assisted by Senior Associate, Paul Grayson, advised on the deal.